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Indonesia central bank to intervene if rupiah becomes too strong: governor
[JAKARTA] Indonesia's central bank will stand ready to intervene in the currency market should the rupiah currency become too strong, although its current level is still fine, the bank's governor told lawmakers on Monday.
"So far, the rupiah's appreciation has a positive impact on the economy," Perry Warjiyo told a hearing of parliament's financial commission.
"If, later on, it strengthens too far and it affects the economy negatively, we will not hesitate to guide it towards its fundamentals, using market mechanism."
The rupiah has rallied in recent weeks and closed last week at its strongest in almost two years, at 13,565 to the dollar. On Monday, it weakened slightly, to stand at 13,605 by 6.12am GMT.